Innovative Pharmaceutical Biotech (HKG:0399) said it was looking to raise HK$60.2 million via the sale of 145 million shares at HK$0.415 each, according to a Hong Kong bourse filing Thursday.
The beauty equipment company is seeking funds to develop its blockchain technology business.
The shares represent 6.77% of the company's issued share capital, and 6.34% on an enlarged basis.
CNI Securities Group is serving as placing agent.
Shares of the company were up 3% in afternoon trade Friday.
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